Texas Maritime Museum Association Inc
EIN: 742097680 · Rockport, TX · NTEE: A540
| Metric | Value |
|---|---|
| Total Revenue | $1.2M |
| Total Expenses | $416K |
| Net Assets | $1.3M |
Is Texas Maritime Museum Association Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Texas Maritime Museum Association Inc
Texas Maritime Museum Association Inc (EIN: 742097680) is a nonprofit organization based in Rockport, TX, classified under NTEE code A540. The organization reported total revenue of $1.2M and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Texas Maritime Museum Association Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Texas Maritime Museum Association Inc is a mid-size nonprofit that has been operating for 46 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $517K |
| Total Expenses | $416K |
| Surplus / Deficit | +$101K |
| Total Assets | $1.3M |
| Total Liabilities | $19K |
| Net Assets | $1.3M |
| Operating Margin | 19.6% |
| Debt-to-Asset Ratio | 1.4% |
| Months of Reserves | 38.8 months |
Financial Health Grade: A
In 2023, Texas Maritime Museum Association Inc reported a surplus of $101K with revenue exceeding expenses, holds 38.8 months of operating reserves (strong position), has a debt-to-asset ratio of 1.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Texas Maritime Museum Association Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +11.6% | +4.4% | +6.6% |
| 2022 | +18.4% | +16.2% | +5.7% |
| 2021 | +64.8% | -3.3% | +4.5% |
| 2020 | -19.6% | -11.0% | -6.9% |
| 2019 | -62.0% | -56.7% | -8.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1980 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Texas Maritime Museum Association Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Texas Maritime Museum Association Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $101K, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.4%.
Frequently Asked Questions about Texas Maritime Museum Association Inc
Is Texas Maritime Museum Association Inc a legitimate charity?
Texas Maritime Museum Association Inc (EIN: 742097680) is a registered tax-exempt nonprofit based in Texas. It has 13 years of IRS 990 filings on record. Total revenue: $1.2M. No red flags identified. Financial health grade: A.
How does Texas Maritime Museum Association Inc spend its money?
Texas Maritime Museum Association Inc reported $1.2M in total revenue in IRS 990 filings. 13 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Texas Maritime Museum Association Inc tax-deductible?
Texas Maritime Museum Association Inc is registered as a tax-exempt nonprofit (EIN: 742097680). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Texas Maritime Museum Association Inc located?
Texas Maritime Museum Association Inc is headquartered in Rockport, Texas and files with the IRS under EIN 742097680. It is classified under NTEE code A540.
How many years of IRS 990 filings does Texas Maritime Museum Association Inc have?
Texas Maritime Museum Association Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.2M in total revenue.
Filing History
IRS 990 filing history for Texas Maritime Museum Association Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Texas Maritime Museum Association Inc's revenue has grown by 46%, moving from $354K to $517K. Total assets decreased by 8.9% over the same period, from $1.5M to $1.3M. Total functional expenses rose by 2%, from $408K to $416K. In its most recent filing year (2023), Texas Maritime Museum Association Inc reported a surplus of $101K, with revenue exceeding expenses. The organization holds $19K in liabilities against $1.3M in assets (debt-to-asset ratio: 1.4%), resulting in net assets of $1.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $517K | $416K | $1.3M | $19K | — | View 990 |
| 2022 | $464K | $399K | $1.3M | $37K | — | View 990 |
| 2021 | $391K | $343K | $1.2M | $44K | — | View 990 |
| 2020 | $238K | $355K | $1.1M | $41K | — | — |
| 2019 | $296K | $399K | $1.2M | $9K | — | View 990 |
| 2018 | $778K | $921K | $1.3M | $18K | — | View 990 |
| 2017 | $285K | $381K | $1.5M | $6K | — | View 990 |
| 2016 | $692K | $364K | $1.6M | $7K | — | View 990 |
| 2015 | $323K | $393K | $1.2M | $9K | — | View 990 |
| 2014 | $343K | $409K | $1.3M | $6K | — | View 990 |
| 2013 | $304K | $390K | $1.4M | $5K | — | View 990 |
| 2012 | $373K | $400K | $1.5M | $5K | — | View 990 |
| 2011 | $354K | $408K | $1.5M | $5K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $517K, expenses of $416K, and assets of $1.3M (revenue +11.6% year-over-year).
- 2022: Revenue of $464K, expenses of $399K, and assets of $1.3M (revenue +18.4% year-over-year).
- 2021: Revenue of $391K, expenses of $343K, and assets of $1.2M (revenue +64.8% year-over-year).
- 2020: Revenue of $238K, expenses of $355K, and assets of $1.1M (revenue -19.6% year-over-year).
- 2019: Revenue of $296K, expenses of $399K, and assets of $1.2M (revenue -62.0% year-over-year).
- 2018: Revenue of $778K, expenses of $921K, and assets of $1.3M (revenue +172.9% year-over-year).
- 2017: Revenue of $285K, expenses of $381K, and assets of $1.5M (revenue -58.8% year-over-year).
- 2016: Revenue of $692K, expenses of $364K, and assets of $1.6M (revenue +114.2% year-over-year).
- 2015: Revenue of $323K, expenses of $393K, and assets of $1.2M (revenue -5.8% year-over-year).
- 2014: Revenue of $343K, expenses of $409K, and assets of $1.3M (revenue +12.8% year-over-year).
- 2013: Revenue of $304K, expenses of $390K, and assets of $1.4M (revenue -18.5% year-over-year).
- 2012: Revenue of $373K, expenses of $400K, and assets of $1.5M (revenue +5.3% year-over-year).
- 2011: Revenue of $354K, expenses of $408K, and assets of $1.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Texas Maritime Museum Association Inc:
Data Sources and Methodology
This transparency report for Texas Maritime Museum Association Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.